still waiting to here something

Anonymous · ‎12-17-2007

i e-mailed a cu about the status of my visa app today. i requested 20k, but offered to shut down 14.5k worth of other tl's that have higher apr's and or annual fee's. of the 14.5k i would need to bt 3.8k (all setting on a 8.6k loc right now) to it, but the cl would be high enough to bt all of mine and dw's revolving debt if we had/wanted to.

anyway, they responded with a request for me to itemize all my accounts, including limits, balances, and payments. since dw isn't on the app, i left her 2k or so off the list.

i'm hoping they like what i'm proposing, they appear to have a cool 9.99%, no bt/cash advance fee, cash back product. i even suggested that i would like to be considered for a lower cl if they didn't want to take a chance on an "unkown" right out of the gate.

thanks for letting me vocalize. as ocd as i am about things, being left in the wind really bugs me. it's very therapeutic to be able to vent amongst likeminded individuals.

Red1Blue · ‎12-17-2007

Hi ducky, I am sure you'll get it. Usually CU's seems to be very willing to work with members than the big banks. I know how it feels waiting and waiting.

Anonymous · ‎12-17-2007

the loan officer called me when i appd for the refi of my citiauto and citifinancial loans because i've been so active about flushing crap acounts and refrshing w/prime tl's she had a hard time getting a read on exactly what was open and closed. she was really only looking for debt to income then, and she made the comment "you have this really great payment history, i figured something wasn't right."

i hope that since i gave her a full picture that they will get a better understanding that i'm just continuing the culling, but need that high of a cl so my util doesn't shoot up and tank my scores.

appreciate the well wishes!

Red1Blue · ‎12-17-2007

See, that is one thing nice about CU. They take time to understand your situation and take closer look. If it is a big bank, probably they will let a computer make a decision. BOA I do lot of business with, if it is under 50K loan they let the computer handle the decision. I am sure CU will come through for you.

Anonymous · ‎12-17-2007

oh, i'm a newly inspired fan of cu's. i think traditional banks have thier place, but i think when the chips are down cu's look for reasons to approve an app, while the banks look for things that you don't meet thier criteria.

haulingthescoreup · ‎12-18-2007

@dnm45227 wrote:
. . . and she made the comment "you have this really great payment history, i figured something wasn't right."

Now THAT'S great feedback!

* Credit is a wonderful servant, but a terrible master. * Who's the boss --you or your credit?
FICO's: EQ 781 - TU 793 - EX 779 (from PSECU) - Done credit hunting; having fun with credit gardening. - EQ 590 on 5/14/2007

Anonymous · ‎12-18-2007

@dnm45227 wrote:
oh, i'm a newly inspired fan of cu's. i think traditional banks have thier place, but i think when the chips are down cu's look for reasons to approve an app, while the banks look for things that you don't meet thier criteria.

Wonderful post ducky.

Can I ask which CU? I too have a strongly growing interest in one of their cards over that of a bank.

And nothing wrong with ocd when it comes to this stuff honey! lol

I do the same and take great pride in it! HaHa

Anonymous · ‎12-18-2007

sorry sylv, i really don't want to go public w/it because it's a cu that almost exclusively deals w/my employer in the city i work in and although i enjoy my interactions on the forum i'm affraid i would be giving up too much personal info.

however, if you are a federal employer in southwestern ohio, northern kentucky, or southeast indiana if anyone wants to pm me with thier govt e-mail addy i will be happy to share.

well, i got a response back from the underwriter today (sort of). she thanked me for giving her a very detailed breakdown of my current accounts, but she's still concerned about my debt to income. she says the numbers don't hold up to thier 40% debt to income ratio. she also voiced her concerns about my response to why i wanted such a high limit (my ultimate goal of 500k available unsecured tl's).

she suggested that i add dw to the app, and they may counter a lower cl. i responded back that dw's scores (pulled today tu 609, mine pulled friday 689) are much lower and lots of wierd charge off's, collections, and addys that are unkown are currently being disputed. so, i think we may be at an impass.

although it looks like the visa product may not happen, i still have to say i'm thankful they let me move a sig loan and auto refi to them so i can save $150 a month (they even let me roll about 9k worth of neg equity into the auto loan). i'm also very impressed that kim would spend sooo much time interacting with me on a very one on one level.

i beleive i could posssibly get a cc out of the app (although at a much lower cl), so that leads me to another question for the masses.

should i take a cc that however great a cu it is is backing it, that just seems to have an uw criteria that won't grow into the mega tl's i have as part of my final financial goal?

Anonymous · ‎12-18-2007

dnm45227 wrote:
sorry sylv, i really don't want to go public w/it because it's a cu that almost exclusively deals w/my employer in the city i work in and although i enjoy my interactions on the forum i'm affraid i would be giving up too much personal info.

however, if you are a federal employer in southwestern ohio, northern kentucky, or southeast indiana if anyone wants to pm me with thier govt e-mail addy i will be happy to share.

well, i got a response back from the underwriter today (sort of). she thanked me for giving her a very detailed breakdown of my current accounts, but she's still concerned about my debt to income. she says the numbers don't hold up to thier 40% debt to income ratio. she also voiced her concerns about my response to why i wanted such a high limit (my ultimate goal of 500k available unsecured tl's).

she suggested that i add dw to the app, and they may counter a lower cl. i responded back that dw's scores (pulled today tu 609, mine pulled friday 689) are much lower and lots of wierd charge off's, collections, and addys that are unkown are currently being disputed. so, i think we may be at an impass.

although it looks like the visa product may not happen, i still have to say i'm thankful they let me move a sig loan and auto refi to them so i can save $150 a month (they even let me roll about 9k worth of neg equity into the auto loan). i'm also very impressed that kim would spend sooo much time interacting with me on a very one on one level.

i beleive i could posssibly get a cc out of the app (although at a much lower cl), so that leads me to another question for the masses.

should i take a cc that however great a cu it is is backing it, that just seems to have an uw criteria that won't grow into the mega tl's i have as part of my final financial goal?

Ducky keep trying. CU's are really into the personal service, I too, was going to have to close down a lot of avail credit to get theirs- they were too concerned about me having too much avail. credit, and right now wasn't the best time to do it.

Keep at it. It will all work out.

Anonymous · ‎12-18-2007

thanks net, beleive me i won't take it personal if we don't come to an agreement. i'm very glad that i have reached a point were i can be somewhat selective (or at least request credit on terms i want).

every cu has thier niche, this one may just be too conservative on the unsecured products for me to want a cc from.

i won't let one aspect of thier product policy sour me on them or cu's. net keep looking, like i said some have products they push more than others.